Rupert Murdoch has already made many of the points that Les Hinton discussed in this speech, but I think the most interesting item was his claim that click-oriented ads are relatively worthless, compared to simple display advertising on quality news sites like the WSJ.

Another thing that's apparent from reading this is Dow Jones believes Fair Use and weak enforcement of copyright laws are impediments to their operations. It wants to set back the clock to the good ol' days of the news media oligopoly, when information was controlled by a small group of very profitable publishers. But as long as Twitterers, bloggers, and aggregators are able to talk about/reprint small excerpts of news reported by MSM outlets, that will lessen audiences dependence upon the large outlets and keep ad rates down.